W. P. Carey Inc. (NYSE:WPC) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,247 shares of the real estate investment trust's stock after selling 15,411 shares during the period. Gateway Investment Advisers LLC's holdings in W. P. Carey were worth $3,609,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of W. P. Carey by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust's stock worth $284,426,000 after acquiring an additional 127,477 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in W. P. Carey by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,152,879 shares of the real estate investment trust's stock worth $173,570,000 after purchasing an additional 204,064 shares during the period. Charles Schwab Investment Management Inc. increased its stake in W. P. Carey by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust's stock valued at $161,894,000 after purchasing an additional 103,147 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of W. P. Carey by 660.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust's stock worth $127,969,000 after purchasing an additional 1,784,131 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of W. P. Carey by 21.1% during the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock worth $94,325,000 after purchasing an additional 264,230 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded up $0.27 on Friday, hitting $55.81. The company's stock had a trading volume of 846,264 shares, compared to its average volume of 1,092,716. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.42. The stock's 50-day moving average is $55.51 and its two-hundred day moving average is $57.82.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.62). The company had revenue of $394.78 million during the quarter, compared to the consensus estimate of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. The business's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 EPS. On average, equities research analysts forecast that W. P. Carey Inc. will post 4.5 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey's dividend payout ratio (DPR) is presently 138.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WPC. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research report on Friday, January 10th. Wells Fargo & Company reiterated an "equal weight" rating and set a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. Barclays restated an "underweight" rating and set a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. Scotiabank dropped their target price on W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Thursday. Finally, UBS Group reduced their price target on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, W. P. Carey currently has an average rating of "Hold" and a consensus target price of $62.43.

W. P. Carey Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.